Foreclosures In HINSDALE?

[Justabystander]

Originally Posted by Ex-Harvey Resident

I didn't read it yet. However, I noticed two years ago....scores of foreclosure signs in Hinsdale. My family and I were just enjoying a drive from our favorite restaraunt, and decided to cruise the neighborhoods. I was astounded, to see all of the boarded up beautiful homes. However, it is what it is. You are suppose to live below your means. I mean if you make $100K a year.....why would you buy a $750K home? You can find something fabulous for $350k-$400k.

Huh? Ex- Harvey Resident, what does a foreclosure sign look like? You saw scores ( I think a score = 20) of them two years ago in town ?? I live in Hinsdale, and have never, ever, seen a boarded up home town, beautiful or not, nor a "foreclosure sign" unlike Harvey, where there might be one or two visible from the street. In fact, I would say there are fewer for sale signs visible now than when the speculators were selling their new tear downs a few years ago. If you read the posted article, you will see what is probably happening, that these sales are quietly occurring. Are you sure you were driving through Hinsdale, and not Detroit during a dream?

[mendelman]

Originally Posted by emmi605

....but why people want to be "house-poor" is beyond me. Is looking rich that important?

yeah, these households have the horrible double-whammy of being house poor and cash poor.

[middle-aged mom]

Originally Posted by Burr Oak

As bad as the market is in Chicago, it is positively rosy compared to Florida, Nevada, Arizona, California, and much of the East Coast. I really think that the days of the McMansion (the curse of Hinsdale) are over just as the days of the gas hogging vehicle are coming to a close. Midwesterners should do what they have always done well -- hunker down, accelerate the pay off of their mortgage, and wait for the storm to blow over. It will be years, not months, before that happens.

Rock solid advice.

The larger the Mc Mansion the more likely it is a trophy home for the owner. On a square footage basis they often represent some of the best values but come on now, who needs a 5000-10,000 square feet?

The property taxes and cost to heat and cool it make mince meat out of
the P/I payment.

[nanannie]

Down the street from us in Barrington Hills, they demolished a lovely colonial on 6 acres which sold for almost 2 mill. A home of 20,000 sq ft is being built on once lovely rolling acerage. Sadly, this is not the only one in the area. South Barrington trophy homes are even more obscene. "What fools these mortals be".